On Monday, the GBP/USD traded between hourly simple moving averages, which provided both resistance and support. The near term future was based upon whether the rate passes the resistance of the 55 and 100-hour SMAs or the support of the 200-hour SMA. Economic Calendar On Tuesday, the GBP/USD currency exchange rate could be impacted by the 15:00 GMT publication of the
The resistance of the 1.3380/1.3400 level caused another drop. This time, the rate passed the support of the 55 and 100-hour SMAs, a pivot point and broke out of the ascending triangle pattern. In the near term future, the rate was expected to test the support of the 1.3320 level and the 200-hour simple moving average. Economic Calendar Next week, on Tuesday,
The 100-hour simple moving average once again caused a surge of the GBP/USD, which again tested the resistance of the 1.3380/1.3400 zone. The resistance held and by the middle of Thursday's European trading hours, the rate had once again retreated to the 100-hour SMA. Near term future forecasts were based upon whether the 100-hour manages to cause another surge. Economic Calendar There
The 100-hour simple moving average provided the GBP/USD with enough support for the rate to return to the resistance of the 1.3380 level. On Wednesday morning, the pair bounced off this level. By the middle of the day's GMT trading hours, the rate had reached below technical support levels near the 1.3340 mark. Economic Calendar At 12:30 GMT the usual US weekly
The announcement of a new coronavirus vaccine occurred, as the rate reached the 1.3400 level. The event caused a surge of the USD, which means that the GBP/USD rate declined. The decline stopped near the 1.3265 level. By the middle of Tuesday's GMT trading hours, the rate had managed to recover to the 1.3380 level, which provided resistance and
By the middle of Friday's European trading hours the GBP/USD currency exchange rate reached the 1.3380 level. In the meantime, it was spotted on the daily candle chart that the rate had broken a large scale channel up pattern. Economic Calendar On Monday, the day is scheduled to end with the US PMIs at 14:45 GMT. Previously, the event did not cause
On Thursday, the 1.3200 level provided the GBP/USD with enough support for the rate to surge above the resistance of the hourly simple moving averages. By the middle of Friday, the rate traded above the 1.3260 level, which was supported by the 55-hour SMA. Economic Calendar On Monday, at 09:30 GMT, the UK Markit PMIs are set to be published and
The surge of the GBP/USD continued until it reached the resistance of the weekly R1 simple pivot point at 1.3310. At mid-day on Thursday, the currency exchange rate had reached the support of the weekly PP at 1.3208. After reaching the weekly PP, the rate traded between the pivot point and the 55-hour simple moving average. Economic Calendar On Thursday, expect the
As forecast, the GBP/USD currency exchange rate surge on Monday. However, the surge was caused by the 55-hour SMA instead of the 200-hour SMA. In the meantime, the rate has revealed a channel up pattern, which has guided the rate since Friday. Economic Calendar Notable data releases start on Tuesday. At 13:30 GMT, expect the US Retail Sales data sets to
On Monday, after touching the 1.3240 level, the GBP/USD currency exchange rate declined to the support of the 55-hour SMA. Meanwhile, the rate was being approached by the support of the 200-hour simple moving average. Due to that reason the forecast of a surge was favoured. Economic Calendar Notable data releases start on Tuesday. At 13:30 GMT, expect the US Retail Sales
As expected, on Thursday, the GBP/USD reached the support of the 200-hour simple moving average. At the 1.3100/1.3120 level. This resulted in a surge, which by the middle of Friday's trading reached the resistance of the 55 and 100-hour simple moving average near 1.3190. Economic Calendar On Friday, the US Producer Price Indices are scheduled to be released at 13:30 GMT. The
On Thursday, the GBP/USD currency exchange rate retreated to trade below the 100-hour simple moving average. The SMA was providing resistance at the 1.3200 level. In the meantime, the currency exchange rate had no technical support as low as the 1.3100 level, where the 200-hour SMA was located at. Economic Calendar On Thursday, at 13:30 GMT USD pairs could move because of
The GBP/USD has reached the 1.3300 level on Wednesday morning. The rate touched the level before retreating back to the support of the 1.3250 mark. In regards to the near term future, the rate was set to trade sideways until the additional support of the 55 and 100-hour simple moving averages catch up. Economic Calendar On Thursday, at 07:00 GMT pay attention
On its fifth attempt on Tuesday, the GBP/USD passed the resistance of the 1.3200 mark. This resulted in a surge, which sharply aimed at the weekly R1 simple pivot point at 1.3270. The rate was pushed through the resistance of the 1.3200 level due to the support of the 55-hour simple moving average. Economic Calendar On Thursday, at 07:00 GMT pay attention
The GBP/USD reached the 1.3200 mark on Monday morning. However, immediately after touching this high level, the rate retraced down to the support of the 55-hour simple moving average. The near term future forecasts were based upon whether or not the 55-hour SMA manages to push the pair up. Economic Calendar On Thursday, at 07:00 GMT pay attention to the UK Preliminary
The surge of the GBP/USD managed to pass the resistance of the 1.3100 level. However, the surge was stopped by the 1.3150 level, which had close by the resistance of the weekly R2 simple pivot point at 1.3170. In the meantime, it was spotted that on Friday morning, the 1.3100 mark had started to provide support, as a retracement down
On Thursday, the GBP/USD remained highly volatile, as the GBP was boosted by the announcements made by the Bank of England. At mid-day the pair broke the resistance of a pivot point at 1.3062 and was set to test the 1.3100 level. The British Pound depreciated against the US Dollar, following the BOE Monetary Policy Report release on Thursday at 07:00
As any other USD currency exchange rate, the GBP/USD started a sharp decline at midnight, as the US Presidential Election polls closed. The decline reached the 1.2920 level, from where a recovery started. By the middle of Wednesday's GMT trading hours, the rate had reached the 1.3000 level. Economic Calendar On the day after the US Election, on Wednesday, the US ISM
At midnight to Tuesday, the GBP/USD currency exchange rate broke the channel down pattern and surged. By the middle of the day's trading hours, the pair was testing the 1.3000 mark, which was strengthened by the 200-hour simple moving average. Future scenarios were based whether or not this level is passed. Economic Calendar US Elections on Tuesday are bound to take away
At the end of last week, the GBP/USD traded with high volatility, as it dropped below 1.2860 and returned to the 1.2910 level. This week, the rate began by trading above the support of the monthly simple pivot point at 1.2898 and below the resistance of the 55-hour SMA. Economic Calendar US Elections on Tuesday are bound to take away all attention
The technical levels at 1.3030 held and caused the GBP/USD rate's decline to the 1.2900 mark. On Friday morning, the currency exchange rate found support in 1.2900 and began a surge. Economic Calendar Next week, US Elections on Tuesday are bound to take away all attention from the macroeconomic data releases. However, there are things to note. On Monday, the US ISM Manufacturing
The Wednesday drop of the GBP/USD touched the 1.2920 level. Afterwards, the rate began a recovery. On Thursday morning, the currency exchange rate was testing the cluster of technical resistance levels at 1.3030. Economic Calendar On Thursday, at 12:30 GMT two events will be released that the financial media will talk about. However, recently both of them have not caused notable moves. The
By the middle of Wednesday's GMT trading hours, the GBP/USD currency exchange rate had passed the support of the 1.3000 mark. In addition, the currency pair broke out of the channel up pattern that had guided the rate since late September. In regards to the near term future, the pair had no technical support as low as the weekly S1
On Tuesday, the GBP/USD was squeezed in between the resistance of the 55-hour simple moving average and the support of the 200-hour SMA. As the 55-hour SMA was pressuring the rate from above, a classic squeeze was expected. Namely, the rate would decrease its volatility, as the SMAs approach one another, which would then result in a sudden sharp move